People are also reading…
"Prices were $.18-$.21 lower as bearish stocks data had long speculators running for the exit. Dec-26 futures traded just below $5 before bouncing into the close. Next support is at $4.88, the midpoint between the June low and the September high. Tomorrow’s export sales are expected to range from 20-55 mil. bu. Higher old crop stocks obviously provide more of a cushion if U.S. production falls much from the current USDA est. of 15.80 bil. bu.," noted Mark Soderberg with ADM Investor Services.
